Life insurance calculator: work out the cover you need
20 October 2026
Most life insurance calculators ask you how much cover you want. That is the one question most people cannot answer. A better calculator works it out for you first.
Who this is for: anyone thinking about life insurance who does not know what amount to ask for, whether you are buying your first policy or checking an old one.
How it helps: explains what a needs-based calculator asks and why, so you can use ours with confidence and understand the figure it gives you.
Type “life insurance quote” into a search engine and most of what comes back asks the same first question: how much cover would you like?
Most people pick a round number. £100,000 sounds sensible. £250,000 sounds safer. Neither is based on anything.
Why “how much cover do you want?” is the wrong first question
A price is only useful if the amount behind it is right.
Pick too little and the money runs out while your family still needs it. Pick too much and you pay for cover you never needed, every month, for years.
The amount should come from your life: what you owe, what your family spends, how long they would need support, and what you already have in place.
What a needs-based calculator asks you
Our calculator asks about the things that actually decide the figure:
Who depends on you, and for roughly how many more years.
Your home, whether you rent or have a mortgage, and what it costs each month.
Your income and work, including what your employer pays if you are off sick.
Debts and existing cover, so you are not paying twice for the same thing.
It takes a few minutes. If you are not sure of an answer, put your best guess and carry on. A rough answer still gives a far better starting point than a random number.
Try it: how much cover does your family need?
Answer a few questions about your family, income and home. It works out a suggested amount of cover first, then shows a guide price.
Work out how much cover I needA guide to help you think it through, not advice. Prices shown are indications only.
Why the figure moves as you answer
As you answer, a running figure updates on the screen. It can jump around, and that is normal.
Add a mortgage and it goes up. Add existing cover and it comes down. It settles once you have answered everything.
At the end you see a few options side by side, from a basic level of cover to a fuller one. You can change the amounts and see how the price changes.
A guide price, not a final price
The prices are indications based on your answers. The actual premium depends on a full application, including your health, lifestyle and medical history, and on the insurer.
That is why we call it a guide. It shows you roughly what the right level of cover would cost, so you can decide whether it is worth taking further.
If you would rather work it out by hand, our guide on how much life insurance you need walks through the same steps.
What the calculator does not cover
It focuses on life cover, with critical illness as an option. It does not size income protection, which works differently because it replaces your monthly pay if you cannot work.
It also cannot tell you how to set the policy up. Things like writing it in trust or choosing between joint and single policies are worth thinking about separately.
Frequently asked questions
Is a life insurance calculator accurate?
It is as accurate as the answers you give it. A needs-based calculator gives a sensible starting point for the amount of cover. The final price depends on a full application with an insurer.
Why does a calculator need my income?
Your income helps estimate what your family would lose if you died, and how long they would need support. Without it, any figure is a guess.
Do I have to answer every question?
Answer what you can. If you are unsure, put your best estimate. You can change the amounts of cover on the results page.
Will I be pressured to buy?
No. The results are yours to look at. If you want us to check them with you, you can ask, but there is no obligation.
Does it include critical illness cover?
It focuses on life cover with critical illness as an option. Income protection needs a separate conversation because it is sized on your monthly pay.
Ready to see your number?
It takes a few minutes, and you can adjust the amounts at the end. Not sure on a question? Put your best guess and carry on.
Work out how much cover I needA guide to help you think it through, not advice. Prices shown are indications only.
Related reading
- How much life insurance do I need?
- Is ten times salary enough life insurance?
- How much life insurance do I need with children?
- How much critical illness cover do I need?
Prefer to talk it through?
There is no charge to you for a conversation. If you take out a policy, the insurer may pay us a commission. Use the contact page.